OneREIT Announces Retirement of Chairman

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY NON-CANADIAN SOURCE

OneREIT (TSX:ONR.UN) announced today the retirement of Patrick Lavelle from his role as a trustee and Chairman of the Board of Trustees of OneREIT.

The Board wishes to thank Mr. Lavelle for his twelve years of dedicated service as a trustee and for having agreed to extend his tenure on the board to serve on the Special Committee. As one of the founding trustees of OneREIT, Mr. Lavelle has provided exceptional leadership and direction to OneREIT and his contribution to the Board has been much appreciated.

About OneREIT

OneREIT is an unincorporated, open-end real estate investment trust which focuses on owning and acquiring retail properties across Canada with the goal of enhancing long-term Unitholder value.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, which may be made only by means of a prospectus, nor shall there be any sale of the Units in any state, province or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such state, province or other jurisdiction. The Units of the OneREIT have not been, and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United States absent registration or an application for exemption from the registration requirements of U.S. securities laws.